UBS mulls sweeteners to keep Credit Suisse wealth bankers

LONDON: UBS Group AG told Credit Suisse wealth bankers it’s weighing financial sweeteners for them to stay as it seeks to reassure...

Sri Lanka seeks 10-year debt moratorium ahead of IMF bailout

COLOMBO: Cash-strapped Sri Lanka is seeking a 10-year moratorium on its foreign debt, President Ranil Wickremesinghe's office said Monday on the eve of a...

Credit Suisse says $17bn debt worthless, angering bondholders

Credit Suisse said 16 billion Swiss francs ($17.24 billion) of its Additional Tier 1 debt will be written down to zero on...

UBS eyeing swoop for Credit Suisse amid fears of banking contagion

UBS AG (UBSG.S) was examining on Saturday a takeover of its embattled Swiss peer Credit Suisse (CSGN.S), sources said, a move that could allay...
Saudi Arabia-crude oil

Oil rebounds 1% as investors take stock of banking crisis

RIYADH: Oil prices rebounded by about one per cent on Friday after a meeting between Saudi Arabia and Russia calmed markets amid...

Lack of rainfall set to hit crop outputs in India, Pakistan

The drought-hit regions of northern and central India, all the way up to Pakistan, are staring at lower food output and high...

Bank rescues ease crisis fears but investors worry it’s not enough

A $30 billion lifeline for First Republic Bank (FRC.N) hosed down market fears about an imminent banking collapse on Friday, but a late...

Microsoft unveils AI for its office suite in increased competition with Google

NEW YORK: Microsoft Corp on Thursday trumpeted its latest plans to put artificial intelligence into the hands of more users, answering a...

Investors brace for hard landing as banking woes stoke recession fears

Fears of a recession are growing on Wall Street, as stress in the banking sector following the collapse of Silicon Valley Bank...

Oil hits lowest in more than a year

HOUSTON: Oil prices plunged 5% to their lowest in more than a year as unease over Credit Suisse spooked world markets and offset hopes...

SVB says Goldman Sachs was buyer of portfolio it booked losses on

SVB Financial Group (SIVB.O) said on Tuesday that Goldman Sachs Group Inc (GS.N) was the acquirer of a bond portfolio on which it booked a...

Meta to cut 10,000 jobs in second round of layoffs

Facebook-parent Meta Platforms (META.O) said on Tuesday it would cut 10,000 jobs this year, making it the first Big Tech company to announce...

Russian sanctions shift oil price-making power to Asia from Europe

MOSCOW: Western sanctions on Russian and Iranian oil have channelled cheap fuel to Asia and in the process eroded a decades-long trend...

SCO members to consider jointly developing emerging fuel projects

NEW DELHI: The Shanghai Cooperation Organisation (SCO) said on Tuesday that its members, including Russia, China and India, would consider jointly developing...

How Silicon Valley Bank’s collapse ripped through global tech

Not long after California startups started pulling money out of troubled Silicon Valley Bank, entrepreneurs in other parts of the world woke...